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    <title>腾讯的戊戌变革 | 2018·大复盘-钛媒体官方网站</title>
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sans-serif;text-decoration:none;font-size:14px;line-height:17.5px;font-weight:bold;max-height:2.58em;*height:2.58em;color:black;}.rbox-blended .playerCube div.videoCube:hover,.rbox-blended  div.videoCube_hover{background-color:transparent;}.rbox-blended .whatsThisSyndicated{font-family:Arial, Verdana, sans-serif;font-size:9px;font-weight:normal;color:black;text-decoration:none;padding:0;}.rbox-blended div.syndicatedItem:hover,.rbox-blended  div.syndicatedItem.videoCube_hover{background-color:transparent;}.rbox-blended div.syndicatedItem:hover .thumbBlock{border-color:inherit;}.rbox-blended .videoCube.syndicatedItem{background-color:transparent;border-color:#D6D5D3;border-radius:0px;-moz-border-radius:0px;-webkit-border-radius:0px;border-width:1px;border-style:none;}.rbox-blended .videoCube.syndicatedItem.horizontal{border-style:none none none solid;}.rbox-blended .videoCube.syndicatedItem .thumbBlock{border-color:darkgray;border-width:0px;}.rbox-blended .videoCube.syndicatedItem .thumbnail-overlay{background-image:null;background-position:5% 5%;}.rbox-blended .videoCube.syndicatedItem.vertical{border-style:solid none none none;}.rbox-blended .videoCube.syndicatedItem .video-duration{display:block;left:36px;}.rbox-blended .videoCube.syndicatedItem .video-label-box{margin-left:0px;}.rbox-blended .syndicatedItem{background-color:transparent;}.rbox-blended .syndicatedItem .video-description{max-height:2.2em;*height:2.2em;color:black;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:normal;line-height:11px;text-decoration:none;}.rbox-blended .syndicatedItem .video-title{max-height:2.58em;*height:2.58em;color:black;font-family:Arial, Helvetica, sans-serif;font-size:14px;line-height:17.5px;font-weight:bold;text-decoration:none;}.rbox-blended .syndicatedItem .sponsored{color:#9C9A9C;font-size:9px;font-weight:normal;text-decoration:none;}.rbox-blended .syndicatedItem .sponsored-url{color:green;font-size:9px;font-weight:bold;text-decoration:underline;}.rbox-blended .syndicatedItem .video-category{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.rbox-blended .syndicatedItem .video-duration-detail{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.rbox-blended .syndicatedItem .video-external-data{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.rbox-blended .syndicatedItem .video-published-date{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.rbox-blended .syndicatedItem .video-rating{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.rbox-blended .syndicatedItem .video-uploader{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.rbox-blended .syndicatedItem .video-views{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.rbox-blended .syndicatedItem .branding{color:black;font-size:10px;font-weight:normal;text-decoration:none;font-family:Arial, Helvetica, sans-serif;background-image:null;text-align:left;}.rbox-blended .videoCube.syndicatedItem .thumbBlock .branding{text-align:left;background-color:transparent;display:block;left:0px;color:black;font-size:10px;font-weight:normal;text-decoration:none;font-family:Arial, Helvetica, sans-serif;background-image:null;}.rbox-blended .videoCube.syndicatedItem .thumbBlock .static-text{text-align:left;background-color:black;display:block;color:white;font-size:10px;font-weight:normal;text-decoration:none;font-family:Arial, Helvetica, sans-serif;}.rbox-blended .videoCube.thumbnail_start .thumbBlock_holder{width:40%;_width:40%;}.rbox-blended .trc_rbox_header_icon_img{margin:0px;height:18px;}.rbox-blended .video-icon-img{margin:0px;height:18px;}.rbox-blended .video-label-box.trc-pre-label{height:auto;}.rbox-blended .syndicatedItem .video-label-box.trc-pre-label{height:auto;}.rbox-blended .videoCube.thumbnail_start .trc-pre-label{width:60%;_width:60%;}.rbox-blended .videoCube.thumbnail_start.trc-split-label .trc-main-label{width:30%;_width:30%;}.rbox-blended .videoCube.thumbnail_start.trc-split-label .trc-pre-label{width:30%;_width:30%;}.rbox-blended .videoCube .video-label-box.trc-pre-label{margin:0;}.rbox-blended .branding{color:black;font-size:10px;font-weight:normal;text-decoration:none;font-family:Arial, Helvetica, sans-serif;background-image:null;text-align:left;}.rbox-blended .branding .logoDiv a span{color:inherit;font-size:inherit;}.rbox-blended .branding div.logoDiv{font-family:inherit;}.thumbnails-a .video-title{font-family:Arial, Helvetica, sans-serif;font-size:15.0px;line-height:20.0px;font-weight:bold;max-height:80.0px;*height:80.0px;color:#333333;text-decoration:none;}.thumbnails-a .video-description{font-family:Arial, Helvetica, sans-serif;font-size:10px;line-height:11px;font-weight:normal;max-height:2.2em;*height:2.2em;color:black;text-decoration:none;}.thumbnails-a .trc_rbox_div{width:auto;_width:99%;height:410px;border-width:0;padding:0;}.thumbnails-a .videoCube .video-duration{left:36px;display:none;}.thumbnails-a .videoCube .video-label-box{margin-left:0;margin-right:0px;}.thumbnails-a .video-label,.thumbnails-a .sponsored,.thumbnails-a .sponsored-url{font-family:'Open Sans', Arial, 'Hiragino Sans GB', 'Microsoft YaHei', '\5fae \8f6f \96c5 \9ed1 ', 'STHeiti', 'WenQuanYi Micro Hei', SimSun, sans-serif;}.thumbnails-a .trc_rbox_header{font-family:'Open Sans', Arial, 'Hiragino Sans GB', 'Microsoft YaHei', '\5fae \8f6f \96c5 \9ed1 ', 'STHeiti', 'WenQuanYi Micro Hei', SimSun, sans-serif;font-size:18.0px;font-weight:bold;text-decoration:none;color:#000000;border-width:0;background:transparent;border-style:none;border-color:#D6D5D3;padding:0 0 6px 0;}.thumbnails-a .sponsored-url{font-size:9px;font-weight:bold;text-decoration:underline;color:green;}.thumbnails-a .sponsored{font-size:9px;font-weight:normal;text-decoration:none;color:#9C9A9C;}.thumbnails-a .video-category{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .video-duration-detail{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .video-rating{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .video-uploader{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .video-views{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .video-published-date{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .sponsored-default .video-title{max-height:2.58em;*height:2.58em;}.thumbnails-a .sponsored-default .video-description{max-height:2.2em;*height:2.2em;}.thumbnails-a .videoCube{width:auto;_width:auto;background-color:transparent;border-width:1px;border-color:#D6D5D3;padding:0;height:auto;margin-left:0px;margin-top:0px;border-radius:0px;-moz-border-radius:0px;-webkit-border-radius:0px;border-style:none;}.thumbnails-a div.videoCube:hover,.thumbnails-a  div.videoCube_hover{background-color:transparent;}.thumbnails-a .sponsored-default{background-color:#F7F6C6;}.thumbnails-a div.sponsored-default:hover,.thumbnails-a  div.sponsored-default.videoCube_hover{background-color:inherit;}.thumbnails-a .videoCube .thumbnail-overlay{background-image:null;background-position:5% 5%;}.thumbnails-a .videoCube:hover .thumbnail-overlay,.thumbnails-a  .videoCube_hover .thumbnail-overlay{background-image:null;}.thumbnails-a .trc_rbox_border_elm{border-color:darkgray;}.thumbnails-a .videoCube .thumbBlock{border-width:0px;border-color:darkgray;}.thumbnails-a div.videoCube:hover .thumbBlock{border-color:inherit;}.thumbnails-a .pager_enabled{color:#0056b3;}.thumbnails-a .trc_pager_counter{color:#000000;}.thumbnails-a .pager_disabled{color:#7d898f;}.thumbnails-a .trc_pager_prev:hover,.thumbnails-a  .trc_pager_next:hover{color:#6497ED;}.thumbnails-a .trc_pager_selected{color:#0056b3;}.thumbnails-a .trc_pager_unselected{color:#7d898f;}.thumbnails-a div.trc_pager_pages div:hover{color:#6497ED;}.thumbnails-a .trc_lightbox_overlay{background-color:#000000;opacity:0.70;filter:alpha(opacity=70);}.thumbnails-a .video-label-box{text-align:left;}.thumbnails-a .trc_sponsored_overlay{background-color:black;}.thumbnails-a .thumbnail-emblem{background-position:5% 5%;}.thumbnails-a .videoCube .sponsored{margin-top:-7px;}.thumbnails-a {width:300px;_width:300px;border-width:0px 0px 0px 0px;border-style:solid solid solid solid;border-color:#DFDFDF;padding:0px 0px 0px 0px;border-radius:0;-moz-border-radius:0;-webkit-border-radius:0;box-shadow:none;}.thumbnails-a .videoCube.vertical{border-style:solid none none none;}.thumbnails-a .videoCube.horizontal{border-style:none;}.thumbnails-a .trc_pager_prev,.thumbnails-a .trc_pager_next{font-size:12px;font-weight:normal;text-decoration:none;}.thumbnails-a .trc_pager_pages div{font-size:12px;font-weight:normal;text-decoration:none;}.thumbnails-a .video-external-data{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .trc_pager div{font-family:serif;}.thumbnails-a .playerCube .thumbnail-overlay{background-image:null;background-position:5% 5%;}.thumbnails-a .playerCube:hover .thumbnail-overlay,.thumbnails-a  .playerCube_hover .thumbnail-overlay{background-image:null;}.thumbnails-a .playerCube .videoCube{background-color:transparent;border-color:#D6D5D3;border-width:1px;border-radius:0px;-moz-border-radius:0px;-webkit-border-radius:0px;margin-left:0px;margin-top:0px;padding:3px;}.thumbnails-a .playerCube .videoCube.horizontal{border-style:none none none none;}.thumbnails-a .playerCube .videoCube .video-label-box{margin-left:81px;margin-right:0px;}.thumbnails-a .playerCube .video-duration-detail{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .playerCube .video-external-data{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .playerCube .video-label-box{text-align:left;}.thumbnails-a .playerCube .video-published-date{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .playerCube .video-category{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .playerCube .video-description{font-family:Arial, Helvetica, sans-serif;font-size:10px;line-height:11px;font-weight:normal;text-decoration:none;max-height:2.2em;*height:2.2em;color:black;}.thumbnails-a .playerCube .videoCube .video-duration{display:block;left:36px;}.thumbnails-a .playerCube .videoCube .thumbBlock{border-width:0px;border-color:darkgray;}.thumbnails-a .playerCube .video-rating{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .playerCube .video-uploader{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .playerCube .video-views{font-size:10px;font-weight:normal;text-decoration:none;color:black;}.thumbnails-a .playerCube .video-title{font-family:Arial, Helvetica, sans-serif;text-decoration:none;font-size:14px;line-height:17.5px;font-weight:bold;max-height:2.58em;*height:2.58em;color:black;}.thumbnails-a .playerCube div.videoCube:hover,.thumbnails-a  div.videoCube_hover{background-color:transparent;}.thumbnails-a .whatsThisSyndicated{font-family:Arial, Verdana, sans-serif;font-size:9px;font-weight:normal;color:black;text-decoration:none;padding:0;}.thumbnails-a div.syndicatedItem:hover,.thumbnails-a  div.syndicatedItem.videoCube_hover{background-color:transparent;}.thumbnails-a div.syndicatedItem:hover .thumbBlock{border-color:inherit;}.thumbnails-a .videoCube.syndicatedItem{background-color:transparent;border-color:#D6D5D3;border-radius:0px;-moz-border-radius:0px;-webkit-border-radius:0px;border-width:1px;border-style:none;}.thumbnails-a .videoCube.syndicatedItem.horizontal{border-style:none;}.thumbnails-a .videoCube.syndicatedItem .thumbBlock{border-color:darkgray;border-width:0px;}.thumbnails-a .videoCube.syndicatedItem .thumbnail-overlay{background-image:null;background-position:5% 5%;}.thumbnails-a .videoCube.syndicatedItem.vertical{border-style:solid none none none;}.thumbnails-a .videoCube.syndicatedItem .video-duration{display:none;left:36px;}.thumbnails-a .videoCube.syndicatedItem .video-label-box{margin-left:0px;}.thumbnails-a .syndicatedItem{background-color:transparent;}.thumbnails-a .syndicatedItem .video-description{max-height:2.2em;*height:2.2em;color:black;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:normal;line-height:11px;text-decoration:none;}.thumbnails-a .syndicatedItem .video-title{max-height:60.0px;*height:60.0px;color:#333333;font-family:'Open Sans', Arial, 'Hiragino Sans GB', 'Microsoft YaHei', '\5fae \8f6f \96c5 \9ed1 ', 'STHeiti', 'WenQuanYi Micro Hei', SimSun, sans-serif;font-size:15.0px;line-height:20.0px;font-weight:bold;text-decoration:none;}.thumbnails-a .syndicatedItem .sponsored{color:#9C9A9C;font-size:9px;font-weight:normal;text-decoration:none;}.thumbnails-a .syndicatedItem .sponsored-url{color:green;font-size:9px;font-weight:bold;text-decoration:underline;}.thumbnails-a .syndicatedItem .video-category{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.thumbnails-a .syndicatedItem .video-duration-detail{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.thumbnails-a .syndicatedItem .video-external-data{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.thumbnails-a .syndicatedItem .video-published-date{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.thumbnails-a .syndicatedItem .video-rating{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.thumbnails-a .syndicatedItem .video-uploader{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.thumbnails-a .syndicatedItem .video-views{color:black;font-size:10px;font-weight:normal;text-decoration:none;}.thumbnails-a .syndicatedItem .branding{color:#999999;font-size:11.0px;font-weight:bold;text-decoration:none;font-family:'Open Sans', Arial, 'Hiragino Sans GB', 'Microsoft YaHei', '\5fae \8f6f \96c5 \9ed1 ', 'STHeiti', 'WenQuanYi Micro Hei', SimSun, sans-serif;background-image:null;text-align:left;}.thumbnails-a .videoCube.syndicatedItem .thumbBlock .branding{text-align:left;background-color:transparent;display:none;left:0px;color:black;font-size:10px;font-weight:normal;text-decoration:none;font-family:Arial, Helvetica, sans-serif;background-image:null;}.thumbnails-a .videoCube.syndicatedItem .thumbBlock .static-text{text-align:left;background-color:black;display:none;color:white;font-size:10px;font-weight:normal;text-decoration:none;font-family:Arial, Helvetica, sans-serif;}.thumbnails-a .videoCube.thumbnail_start .thumbBlock_holder{width:40%;_width:40%;}.thumbnails-a .trc_rbox_header_icon_img{margin:0px;height:18px;}.thumbnails-a .video-icon-img{margin:0px;height:18px;}.thumbnails-a .video-label-box.trc-pre-label{height:auto;}.thumbnails-a .syndicatedItem .video-label-box.trc-pre-label{height:auto;}.thumbnails-a .videoCube.thumbnail_start .trc-pre-label{width:60%;_width:60%;}.thumbnails-a .videoCube.thumbnail_start.trc-split-label .trc-main-label{width:30%;_width:30%;}.thumbnails-a .videoCube.thumbnail_start.trc-split-label .trc-pre-label{width:30%;_width:30%;}.thumbnails-a .videoCube .video-label-box.trc-pre-label{margin:0;}.thumbnails-a .branding{color:black;font-size:10px;font-weight:normal;text-decoration:none;font-family:Arial, Helvetica, sans-serif;background-image:null;text-align:left;}.thumbnails-a .branding .logoDiv a span{color:inherit;font-size:inherit;}.thumbnails-a .branding div.logoDiv{font-family:inherit;}.alternating-thumbnails-a img {
        max-width: none;
}

/* override bootstrap default span definitions */
.alternating-thumbnails-a [class*=span] {
    float:none;
    margin-left:0;
}


.alternating-thumbnails-a .trc_rbox_header {
        line-height: 1.2em;
        position: relative;
        display: inline-block;
        width: 100%;
	background: transparent;
	height: auto;
}

.alternating-thumbnails-a .trc_rbox_header_span .trc_header_right_column {
        display: none;
	background: transparent;
	height: auto;
}

.alternating-thumbnails-a .trc_rbox_header .logoDiv {
        font-size: inherit;
        line-height: normal;
}

.alternating-thumbnails-a .logoDiv a {
    font-size: 100%;
}

.alternating-thumbnails-a .logoDiv a span {
    display: inline;
    color: #333;
    font-weight: normal;
    font-size: 11.0px;
}

.alternating-thumbnails-a .videoCube a {
    padding: 0;
}

.alternating-thumbnails-a .thumbBlock {
    margin: 0;
}

.trc_elastic .alternating-thumbnails-a .video-label-box {
    height: 80.0px;
}

.alternating-thumbnails-a .videoCube .video-label-box {
    margin-top: 5px;
}

.alternating-thumbnails-a .videoCube .video-label-box .video-title {
    text-decoration: none;
    margin: 0;
}

.alternating-thumbnails-a .videoCube:hover .video-label-box .video-title {
    text-decoration: underline;
}

.alternating-thumbnails-a .video-label-box .branding {
    display: block;
}

.alternating-thumbnails-a .syndicatedItem .branding {
    line-height: 20.0px;
}
.alternating-thumbnails-a .trc_header_left_column {
	width: 48%;
	display: inline-block;
	background: transparent;
	height: auto;
}

.alternating-thumbnails-a .trc_rbox_header .logoDiv a {
	font-size: 100%;
}

.alternating-thumbnails-a .trc_rbox_header .trc_header_ext {
	position: relative;
	top: auto;
	right: auto;
}

.alternating-thumbnails-a .branding{
    color: #999999;
    font-size: 11px;
    font-family: 'Open Sans', Arial, 'Hiragino Sans GB', 'Microsoft YaHei', '微软雅黑', 'STHeiti', 'WenQuanYi Micro Hei', SimSun, sans-serif;
    font-weight: bold;
}
.thumbnails-a img {
        max-width: none;
}
/* override bootstrap default span definitions */
.thumbnails-a [class*=span] {
    float:none;
    margin-left:0;
}
.thumbnails-a .trc_rbox_header {
        line-height: 1.2em;
        position: relative;
        display: inline-block;
        width: 100%;
	background: transparent;
	height: auto;
}
.thumbnails-a .trc_rbox_header_span .trc_header_right_column {
        display: none;
	background: transparent;
	height: auto;
}
.thumbnails-a .trc_rbox_header .logoDiv {
        font-size: inherit;
        line-height: normal;
}
.thumbnails-a .logoDiv a {
    font-size: 100%;
}
.thumbnails-a .logoDiv a span {
    display: inline;
    color: #333;
    font-weight: normal;
    font-size: 11.0px;
}
.thumbnails-a .videoCube a {
    padding: 0;
}
.thumbnails-a .thumbBlock {
    margin: 0;
}
.trc_elastic .thumbnails-a .video-label-box {
    height: 80.0px;
}
.thumbnails-a .videoCube .video-label-box {
    margin-top: 5px;
}
.thumbnails-a .videoCube .video-label-box .video-title {
    text-decoration: none;
    margin: 0;
}
.thumbnails-a .videoCube:hover .video-label-box .video-title {
    text-decoration: underline;
}
.thumbnails-a .video-label-box .branding {
    display: block;
}
.thumbnails-a .syndicatedItem .branding {
    line-height: 20.0px;
}
.thumbnails-a .trc_header_left_column {
	width: 48%;
	display: inline-block;
	background: transparent;
	height: auto;
}
.thumbnails-a .trc_rbox_header .logoDiv a {
	font-size: 100%;
}
.thumbnails-a .trc_rbox_header .trc_header_ext {
	position: relative;
	top: auto;
	right: auto;
}
.thumbnails-a .branding{
    color: #999999;
    font-size: 11px;
    font-family: 'Open Sans', Arial, 'Hiragino Sans GB', 'Microsoft YaHei', '微软雅黑', 'STHeiti', 'WenQuanYi Micro Hei', SimSun, sans-serif;
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        <h1>腾讯的戊戌变革 | 2018·大复盘        </h1>

  <div class="post-info">
               <a title="赫婧" target="_blank" href="http://www.tmtpost.com/user/1343310" class="color-orange">
        赫婧          </a>
                <a title="芦依" target="_blank" href="http://www.tmtpost.com/user/3015948" class="color-orange">
        芦依          </a>
    
    <span class="gap-point">•</span>
    <span class="time ">2019-01-07 09:09</span>
                          </div>
  <p class="post-abstract">

  <span class="abstract-tit">摘要：</span>
  腾讯未来的想象空间，全部取决于能够做出什么样深度的变革。</p>
  <div class="inner">
    <p><img id="edit_3690607" class="aligncenter" src="20190107091440354.jpeg" alt="腾讯的戊戌变革 | 2018·大复盘        " title="腾讯的戊戌变革 | 2018·大复盘        "></p><p><img id="edit_3690597" class="aligncenter" src="20190107090807500.jpg" alt="图片来源@视觉中国" title="腾讯的戊戌变革 | 2018·大复盘        "></p><p class="caption">图片来源@视觉中国</p><blockquote><p><strong>钛媒体注：</strong>1月4日，一篇《我如何成了腾讯架构调整的炮灰》的文章，再次把腾讯架构调整的话题推上了舆论浪尖：小程序生态内的一个创业项目“她face+”，因腾讯内部业务调整，导致产品停止更新长达20天。</p><p>在刚刚过去的2018年，组织架构调整，成为腾讯战略层面的最大动作，但与此同时，也使一系列隐藏在原有组织架构内部沉疴浮出水面。新年伊始，腾讯要如何直面挑战？<strong>钛媒体「2018•大复盘」专题深度原创组，对巨头腾讯的变革做出了深度复盘：</strong></p></blockquote><p>2018年是农历戊戌年。对于腾讯来说，最大的变化，就是在当年的9月30日宣布了腾讯宣布了历史上<a href="http://www.tmtpost.com/3507364.html" target="_blank" rel="noopener">第三次组织架构调整</a>，为了整合了B、C端业务，腾讯将由原来的七大事业群演进为六大事业群，新成立云与智慧产业事业群（CSIG）、平台与内容事业群（PCG），这代表着腾讯的未来核心战略。</p><p>这一调整的目的毫无疑问是针对腾讯最近一年股价的颓势。就在年初，花旗和美林美银等很多机构的研报都还看高腾讯的股价冲破500港币大关。但第二季度财报发布后不久，腾讯股价出现了连续下跌，2018年10月9日这天，市值跌破2.8万亿港元，被挤出了包括Facebook、阿里巴巴在内的全球市值第一梯队。</p><p>从直接诱因来看，在这份财报中，连续5年贡献着主要营收的游戏，占比下跌至34.2%；受游戏影响，腾讯净利润环比减少22％，这些数字仿佛在宣告游戏业务在腾讯的增长引擎角色已经告一段落。<br><img id="edit_3684300" class="aligncenter" src="20190103195626290.png" alt="腾讯游戏收入占总营收比重（2014-2018）数据整理/芦依 绘制/丛笑" title="腾讯的戊戌变革 | 2018·大复盘        "></p><p class="caption">腾讯游戏收入占总营收比重（2014-2018）数据整理/芦依 绘制/丛笑</p><p>2017年曾是腾讯《王者荣耀》的极盛之年，月流水30亿，开发团队拿到了120个月奖金，这场人人开黑的国民级游戏却在一个暑假之后进入了冷却期。2018年，游戏流量接近天花板，（据艾瑞第三季度数据，王者荣耀的用户数腰斩，下降高达42%，用户流失非常严重。）且受到政府监管压力的腾讯游戏业务恐怕在接下来的很长一段时间处于颓势。</p><p>据钛媒体作者秋源俊二对<a href="http://www.tmtpost.com/3590233.html" target="_blank" rel="noopener">腾讯Q3财报</a>的分析，游戏业务早在2017年Q3之后就开始出现倒退，随着游戏红利期的消退，腾讯失去了业绩增长的最强发动机。</p><p><strong>腾讯受到来自政策的打击“三连”：</strong></p><blockquote><p>2018年初，监管机构暂停了网络游戏版号的备案和审批，“吃鸡”没能拿到备案；</p><p>8月30日，八部门发布《综合防控儿童青少年近视实施方案》 游戏行业进入“配额制”；</p><p>9月10日，腾讯旗下《天天德州》《欢乐拼三张》《欢乐斗棋牌》确认将退市；</p></blockquote><p>而腾讯转型的更深层次原因在于流量红利的消失。流量有什么用？腾讯恐怕是BAT中最有资格回答这个问题的公司。而根据2017年腾讯的年报，作为腾讯的发家产品，QQ在2017年底月活跃账户为7.83亿，相较2016年底的8.69 亿，出现9.8%的负增长。微信方面，微信和WeChat的合并月活跃账户数达到9.89 亿，同比增速由2016年的27.6%下降至11.2%。<br><img id="edit_3684277" class="aligncenter" src="20190103194356907.png" alt="腾讯QQ及微信月活账户变化（2012-2017） 数据整理/芦依，图表绘制/丛笑" title="腾讯的戊戌变革 | 2018·大复盘        "></p><p class="caption">腾讯QQ及微信月活账户变化（2012-2017） 数据整理/芦依，图表绘制/丛笑</p><p>腾讯2018年度Q2财报显示，微信用户数量已超10亿。据极光大数据《2017年Q4暨全年移动互联网行业数据研究报告》，从2017年第四季度开始，QQ、微信都出现了不同幅度的增速下滑，QQ下滑0.68% 、微信下滑0.52%。</p><p><strong>此前，在大洋彼岸的社交巨头Facebook已经成为腾讯的前车之鉴。</strong></p><p>自年初的数据泄露丑闻爆发后，Facebook深陷舆论风波，股价一路走低。<strong>从表面上看，Facebook股价不佳是受到黑天鹅事件的冲击，但事实上，用户增长出现颓势才是投资者对其信心不足的原因。</strong></p><p>在2018年7月26日发布的Q2季报中，Facebook的用户增速已降至有史以来最低水平，月活和日活用户均低于预期。在10月30日发布的Q3财报中，用户增长依然陷于颓势，引得多家投资银行纷纷下调Facebook的目标股价。</p><p>从Facebook的商业模式看，其营收主要来源于广告，用户的加剧流失会动摇其营收的根基。而腾讯这棵同样从流量红利中汲取营养的大树，也要面对相同的质疑。</p><h2>提高流量的商业化程度</h2><p>游戏下滑、流量见顶这些外因，依然只是表象。<strong>腾讯真正的挑战，是如何持续提高自己的流量变现能力。</strong></p><p>以微信为例。微信月活突破10亿之后，用户增长已逐渐逼近天花板，成本低、易变现的增量市场已经十分有限，因此，当马化腾在全员内部信中称，“移动互联网的上半场已经接近尾声，下半场的序幕正在拉开。”</p><p>这代表了马化腾在关键时刻，对企业命运的清醒认识——腾讯拿到了流量，但并没有完全发挥它的作用。</p><p>有赞CEO白鸦曾提供一组数据对比，</p><blockquote><p>“淘宝流量30%已经商业化了。而腾讯的流量商业化程度还不到1%。”</p></blockquote><p>毫无疑问，一款受到市场欢迎的游戏是效率非常高的流量变现手段。2017年腾讯股价高涨，无疑与《王者荣耀》的亮眼表现有直接关联。但游戏公司从某种意义上，和电影公司非常近似，业绩表现非常依赖于每年推出项目的质量；但从长期来看，受到项目质量、周期、市场以及政策影响都很大。</p><p>所以在上述两个领域，不存在“常胜将军”，高风险与高收益同在，并非一个健康可持续的商业模式。</p><p><strong>所以，从财报营收上看，腾讯正在从一个“游戏公司”转变成“广告公司”，或者说在短期内，广告会成为撑起营收的中坚力量。</strong></p><p>腾讯发布的Q3财报显示，腾讯Q3季度的总营收为805.95亿元，其中网络广告营收162.47亿元，占总营收的20%。网络广告保持了较高增速，同比增长47%。</p><p>更值得关注的是，在媒体广告收入之外，腾讯的社交广告正在扛起广告营收的大旗。在162亿元的广告营收中，媒体广告收入只有50.9亿元，同比增速仅有23%，而社交广告收入则达到了111.57亿元，同比增长61%。<strong>在整体广告营收中占据了2/3以上的比重，这主要得益于包括小程序、朋友圈和广告联盟在内的微信流量变现。</strong></p><p>2018年，腾讯的流量蛋糕遭遇了今日头条之后的第二个劲敌——抖音，讲究算法、数据打通一致对外的头条系产品开辟了微信QQ之外的新大陆，但是让今日头条估值百亿美金的信息流广告却难于复制到微信。</p><p>因为“保护用户体验”、“做最好的互联网工具”仍是微信的信条。</p><p>张小龙曾在微信价值观大会上用一个蝴蝶效应的故事讲到，一个群发链接可能在微信内引发的连锁反应，任何一个微小的改动都会在微信生态内被无限放大，对于这个月活10亿的微信帝国来说，商业化的每一步都带着“腾讯式谨慎”——<strong>微信不能打扰用户、商业化要无形、好的产品要让用户“用完即走”。</strong></p><p>在微信，广告永远不会出现在显眼的位置，带有诱导性，所谓强营销的社交裂变“转发此链接”，十有八九会被微信封掉。</p><p>据不完全统计，为了抵抗微博营销泛滥而出现的朋友圈，每人每天能刷到的广告至多不会超过两条；为了提升阅读效率而改版的订阅号，至今没有任何信息流广告的迹象；微信中唯一一款信息流产品看一看，入口还比较深。</p><p>在平衡用户体验和寻求变革上，张小龙终于在年末给出了他的回答。12月22日，<a href="http://www.tmtpost.com/3661187.html" target="_blank" rel="noopener">微信迎来了四年以来最大的一次改版。</a>功能更新主要体现在两点：一是上线时刻视频，如同在微信内部嵌入一个“抖音”；二是将点赞按钮变为好看，用户可以一键将喜欢的文章分享至看一看，与好友形成互动。</p><p><strong>微信7.0，仍然是用户友好型的，张小龙拒绝AI算法，选择做一个“人心”的捍卫者。</strong>但微信早已不再只是一个好用的通讯工具，它需要比工具更高的变现效率，微信团队也因此一直在用户体验和变现效率之间小心翼翼地尝试。</p><p>2016年初，微信推出了应用号，也就是过去两年被反复讨论的小程序。2017年4月，苹果封掉了微信赞赏功能，也是在这个时候，人们终于意识到微信要做的是“操作系统”，更是腾讯“链接一切”的触角。</p><p>2018年6月，微信官方宣布赞赏功能回归，新的名字是“喜欢作者”，但腾讯与苹果这两个巨头一损俱损，不像幸运的直播平台那样，微信和苹果均不会从打赏中抽成，这也几乎断绝了它从C端获得收益的可能。</p><p>毫无疑问，微信的特殊性也体现在其广告模式的特殊性上，不打扰用户的广告如何存在？这关系到微信的商业模式，也反映着腾讯公司的to B能力。</p><p>目前阶段，微信把广告业务的潜在目标投向了微信支付的商户，在Q3财报中，关于微信的广告策略中这样写道：将微信支付商户转化为广告主，为微信朋友圈扩大长尾广告主基数。</p><p>跟单纯依靠流量和运营的游戏业务不同的是，广告的业务能力从一个侧面映射出微信在to B能力上的短板。在《腾讯没有梦想》的文章评论中，对此有更为直接的批评：</p><blockquote><p>“腾讯在to B上，同一个客户在同一个部门内的业务上要经历六路人马的身份辨识，如果是跨部门的话，可能要再叠加4个以上多部门大军。这样去打市场，能赢才怪。”</p></blockquote><p>在产品层面，靠服务C端起家的腾讯，在服务B端上仍像个小白。在《腾讯没有梦想》的评论区，有留言写道：</p><blockquote><p>“在社交广告行业交流会上，腾讯的产品经理理解不了别人的提问，最后靠行业经理救场。今日头条广告后台的交互和技术甩腾讯几条街。”</p></blockquote><p>在最新的组织架构调整中，针对广告业务，腾讯新增了跨事业群的“广告营销服务线”，目的是整合社交与效果广告部与原网络媒体事业群广告线，统一接管腾讯视频、QQ及微信的广告业务。在技术上，腾讯成立了技术委员会，希望通过此举，让CSIG与TEG（技术工程事业群）加大共享。</p><p>如果说，组织架构调整是为了支撑腾讯完成转型，那么在腾讯成功转型前，对于自己能做什么已经有了深刻的认识。而这牵扯到一个关键问题是：<strong>腾讯的救命船票“微信”又该是什么角色？</strong></p><p>据在线数字营销服务平台“搞定” CEO 李栋此前在采访中透露，对于支持微信支付的中小微商户，微信支付达到一定体量后就可以换取对应的朋友圈广告。比如说一个线下花店，每月的流水平均是10万，达到20万后，超出部分可按照一定比例向微信广告平台申请换取广告。</p><p>从微信支付商户，到小程序和朋友圈广告主，单纯收广告费的模式早已不再适合微信生态，如果没有链接B端的小程序，微信的广告空间也将十分狭小。</p><p>广告的业务能力只是腾讯转型的一个开始，如何根据B端需求调整产品与组织架构，在产业互联网的背景下盘活流量，才是腾讯真正的难题。</p><h2>从“产品的腾讯”到“服务的腾讯”</h2><p>“你能不能坐到终点不知道，你的一个人上去了，还是一个团队上去，不知道。而且很多人往上挤，那是和睦相处还是最后打起来的，也不知道。”在央视《对话》节目中，对于向B端和产业互联网的转型，马化腾表现出了担忧。</p><p>关于2018年这场大型变革，马化腾早在2017年12月的腾讯员工大会上就放出信号，<strong>那时他认为腾讯面临的最大问题是内部架构，变革的原因是“腾讯需要更多to B的能力。”</strong></p><p>在过去的一年里，腾讯也确定了自己的转型to B的思路。</p><p>对此，腾讯高级副总裁、CSIG事业群负责人汤道生有着更为清晰的阐释，他认为产业互联网归根结底还是to C 的，“腾讯将利用服务C端用户的经验，帮助B端伙伴实现生产制造与消费服务的价值链打通，以独特的C2B方式连接智能产业，服务产业、也服务于人。”</p><p>汤道生判断的思路是相当清晰的：<strong>腾讯要做C端和B端的链接器，为产业的互联网化提供基础服务。</strong></p><p>换句话说，在腾讯转型to B的过程中，相比另一个巨头阿里，对于C端的覆盖力甚至可以说是最大的一个优势。具体到实际业务中，这主要指的是，如何把微信的流量转化成 B 端所需。在零售领域，腾讯拿出了典型案例：微信+小程序可以为家乐福带来了2亿的线上流量，微信+企业微信帮助壳牌将管理链条延伸到散落在乡镇的夫妻小店。</p><p>在微信的导流下，企业微信获得了150万注册用户。今年10月下旬，企业微信更新版本，宣布与微信在群聊功能内测中实现互通，今年4月内测上线的企业微信与微信账号好友、单聊互通，通过微信互通的开放API，可以将微信联系人关联到企业的CRM系统中。在当前企业微信联结150万家注册企业后，微信C端的流量，既能够让企业联结到客户，又能够让它与上下游的厂商联结。</p><p>另一方面，腾讯也在补上相较阿里的不足，不习惯下水的腾讯做起了基础性工作，产品经理们开始深入企业一线，为了拿下大B客户，腾讯云招了超过2000名销售……</p><p>但更大的变革，正在这次起于戊戌之年的组织调整中孕育。</p><p><strong>对比一下阿里和腾讯两家公司的架构，就能看出非常大的区别：</strong></p><p>阿里的架构更像一个复杂的生态，各个业务和产品咬合紧密，有些类似于宜家设计的顾客通道，一个用户可以从优酷进去，从天猫出来；饿了么的送餐数据，可以支撑盒马的选址；而腾讯即便是在调整后的架构里，依然还是几条笔直的通道，更像一个超市，用户和流量快进快出，贡献的附加值远远不够。</p><p>从基因来看，腾讯还是一家产品公司。</p><p>也正因如此，腾讯的很多习惯思维在产品的层面极其有效。例如，被腾讯内部称为七种武器之一的“赛马”文化，在一个领域投入几支团队做产品，赢者胜出，这套打法虽然残酷却迎合了C端市场着急善变的特点。极致的产品思维，结合流量和资本的力量，使得腾讯最终在C端市场几乎赢得了一切。</p><p>但是在to B的市场里，很多的游戏规则改变了。</p><p>B端拥有稳定的需求，以及比个体用户强大千百倍的议价能力，甚至用户本身是市场的主导者，需要厂商放下身段，围绕他们去提供服务；而不是像C端市场一样，只要有不错的产品，再结合强大的流量和运营，就可以让用户飞蛾扑火一般聚拢过来。</p><p>换句话讲，<strong>C端市场拼产品，而B端市场更拼服务。</strong></p><p>在C端市场，用户虽然众多，但是他们在产品端，却是以统计数据的面孔出现的，他们的需求满足，是以概率方式呈现的；而在B端市场，每一个用户，却都是一个个具体的个体，如果要做他们的生意，他们再小的需求，也必须100%地去满足。</p><p>这就对腾讯发展至今的以产品为核心的组织管理体系，提出了极高的挑战。腾讯高层对于这个问题是非常清楚的，马化腾自己也说腾讯目前的组织架构形态挑战很大，“腾讯目前的组织架构主要针对C端消费者，需要合作伙伴倒逼腾讯内部组织结构升级，否则我们自己也适应不了未来的发展。让腾讯更加适应to B、to G的企业模式，不再出现与同一个伙伴谈合作，一下子来十几个部门，分头谈，说法都不一样的问题。” 但显然这一次的调整，并没有实质性地触及这个问题。</p><p>尤其是微信事业群，作为一个独立的几乎自成体系的事业群，如何协调与互娱、平台内容、云智慧等几个其他事业群的关系，也将是个巨大的挑战。例如同样面对企业客户，<a href="http://www.tmtpost.com/3596976.html" target="_blank" rel="noopener">企业微信</a>和CSIG（云与智慧事业群）自己就需要和客户做很多解释，都提供连接服务，互相之间的边界在哪里，哪些事情企业微信可以做，哪些事情需要CSIG来做。<br> <img id="edit_3681810" class="aligncenter" src="b1cf6bab59f0b7959d4fed3b364e6450ce70bad4_1400_1574.jpg" alt="图片来源于阿里巴巴财报" width="546" height="615" title="腾讯的戊戌变革 | 2018·大复盘        "></p><p class="caption">图片来源于阿里巴巴财报</p><p><img id="edit_3681813" class="aligncenter" src="db0fdb52aec8af6bf0a29e0d329d11393a347468_1400_812.jpg" alt="图片来源：腾讯官网" title="腾讯的戊戌变革 | 2018·大复盘        "></p><p class="caption"><strong>图片来源：腾讯官网</strong></p><p><strong>作为目前并驾齐驱的两家互联网巨头，阿里和腾讯的流量变现模式是完全不同，甚至相反的。</strong>阿里的模式更像导流模式，众多应用汇聚数据和流量，支撑最大的业务零售、蚂蚁金服和阿里云去赚取最大的利润，所以阿里的架构实际上是一个高度耦合的架构；而腾讯的模式更像分发模式，微信和QQ两个超级流量入口获取巨大免费流量，然后分发到不同的渠道——例如游戏、电商、广告等去赚钱，这就造成腾讯所谓“组织墙”、“数据墙”之说。</p><p>对腾讯来说，<a href="http://www.tmtpost.com/3572760.html" target="_blank" rel="noopener">小程序与企业微信的打通是一桩新闻</a>，在阿里，飞猪与支付宝打通却是“出厂设置”，更大的内部割裂体现在腾讯的两个流量支柱产品QQ和微信上，比如同样是登录腾讯自家的产品，在登录时会让用户从QQ和微信账号“二选一”。</p><p>而在技术层面，腾讯到现在没有真正意义上集团级别的CTO以及数据共享平台和机制，也就无法形成真正有效的协同。</p><p>除了产品和技术，一家公司的分裂更多体现在组织架构、管理层和企业文化上，无论是10月的组织架构调整还是年会时马化腾废除干部终身制，都在反映一个问题：一直以来的腾讯，是温和、迟缓、僵化的。</p><p>浅表的变革，只能带来浅表的收益，而对于转型to B这种根本性的问题，腾讯的改革还差得很远。在组织架构调整方面，2019年腾讯还会继续深化。对它来说，从以产品为中心的体系，转向以客户为中心的体系，会是一个巨大的挑战。<strong>（本文首发钛媒体，作者/赫婧、芦依，编辑/刘湘明。钛媒体苏建勋对本文亦有贡献）</strong></p><p><img id="edit_3690826" class="aligncenter" src="20190107111322737.jpeg" alt="腾讯的戊戌变革 | 2018·大复盘        " width="694" height="1019" title="腾讯的戊戌变革 | 2018·大复盘        "></p>                <!-- 增加 二维码图片 -->
            <p></p><p style="text-align: center;"><strong>更多精彩内容，关注钛媒体微信号（ID：taimeiti），或者下载钛媒体App</strong></p><p></p><p></p><p><img class="aligncenter" src="20171204114042938.jpg" alt="腾讯的戊戌变革 | 2018·大复盘        " title="腾讯的戊戌变革 | 2018·大复盘        "></p><p></p>
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